Castle Rock Wealth Management LLC Sells 892 Shares of Johnson & Johnson (NYSE:JNJ)

Castle Rock Wealth Management LLC decreased its holdings in Johnson & Johnson (NYSE:JNJ) by 7.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,797 shares of the company’s stock after selling 892 shares during the period. Castle Rock Wealth Management LLC’s holdings in Johnson & Johnson were worth $1,842,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Tallon Kerry Patrick purchased a new position in Johnson & Johnson during the fourth quarter valued at approximately $290,000. Capital & Planning LLC boosted its holdings in Johnson & Johnson by 13.6% in the 4th quarter. Capital & Planning LLC now owns 1,528 shares of the company’s stock valued at $221,000 after purchasing an additional 183 shares during the period. Red Door Wealth Management LLC grew its position in shares of Johnson & Johnson by 27.3% during the 4th quarter. Red Door Wealth Management LLC now owns 65,093 shares of the company’s stock valued at $9,414,000 after purchasing an additional 13,962 shares in the last quarter. Secure Asset Management LLC increased its holdings in shares of Johnson & Johnson by 31.4% in the fourth quarter. Secure Asset Management LLC now owns 5,050 shares of the company’s stock worth $730,000 after purchasing an additional 1,206 shares during the period. Finally, Veracity Capital LLC raised its position in shares of Johnson & Johnson by 7.7% in the fourth quarter. Veracity Capital LLC now owns 3,343 shares of the company’s stock worth $483,000 after buying an additional 240 shares in the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on JNJ. Wall Street Zen cut Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. Guggenheim reiterated a “neutral” rating on shares of Johnson & Johnson in a research report on Wednesday, April 2nd. Leerink Partnrs cut shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Finally, Leerink Partners cut shares of Johnson & Johnson from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $169.00 to $153.00 in a research note on Tuesday, May 13th. Eleven research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and an average price target of $170.88.

Johnson & Johnson Stock Performance

Johnson & Johnson stock opened at $153.12 on Tuesday. The firm has a fifty day simple moving average of $155.05 and a two-hundred day simple moving average of $153.65. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99. The company has a market capitalization of $368.41 billion, a PE ratio of 23.02, a P/E/G ratio of 2.56 and a beta of 0.42.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.18. The company had revenue of $21.89 billion during the quarter, compared to analyst estimates of $21.65 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. Research analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th will be given a dividend of $1.30 per share. The ex-dividend date is Tuesday, May 27th. This represents a $5.20 annualized dividend and a yield of 3.40%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.24. Johnson & Johnson’s dividend payout ratio is presently 57.84%.

Johnson & Johnson Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.